Find in the news:
BY COUNTRY

Zara Closes 4,000 Stores Worldwide Due to Coronavirus



Inditex Group, the largest fashion retailer in the global market in terms of revenue, began massively closing stores amid the spread of Covid-19.
Zara

Spanish Inditex Group, the largest fashion retailer by revenue on the global market, began massive closures of stores around the world amid the spread of Covid-19. To date, 3785 stores in 39 countries most affected by the virus have been declared closed. 

Managing the brands Zara, Bershka, Massimo Dutti, Stradivarius, Oysho and Pull&Bear, the Inditex Group continues to operate in these countries, including the U.S., China, Spain, and Germany, only through an online store. The company notes that online stores continue to operate as standard in all markets. 

The losses caused by the suspension of the shops operated by Inditex Group are not yet reported. It is known that sales in Spain bring the company 15.7% of turnover, the rest of Europe - 46%, America - 15.8% and Asia - 22.5%. Also, it is known that in the period from February 1 to March 16, sales of Inditex brands decreased by almost a quarter. 

Inditex notes that the current market situation, caused by temporary external factors, will not have a significant impact on the business model and growth potential of the company in the long term. In recent years, Zara online stores have opened, including in several African countries and the Caribbean, allowing the company to cover 106 markets. 

Inditex Group, is one of the most significant players in fashion retail, joined the program of assistance in the fight against the spread of the Covid-19 virus. Today it became known that Zara brand owners handed over ten medical masks to healthcare professionals and sick patients. In the coming days, the retailer will send about 300 thousand additional personal protective equipment. Also, part of the company's production capacity will be temporarily transferred to the production of medical masks and robes. Currently, Spain is among the most affected countries in the world by Covid-19. According to the data as of March 23, 2020, the number of people ill in the country exceeds 33 thousand people. 

Earlier it became known that Inditex Group sales increased by 8% in 2019 and reached 28.3 billion euros. The growth of comparable sales (not including discoveries) was 6.5%. Despite the reliable financial results, the company has not yet decided to pay out dividends amidst the uncertain market situation.

More about shopping malls in Spain



YESTERDAY, France:
The brand is set to open a flagship store in the Parisian district of Le Marais.
May 24, 2024, USA:
Stüssy is preparing to launch the new archive store in Brooklyn, New York, for one month.
May 23, 2024:
Located on Broadwick Street in Soho, London.
May 22, 2024, USA:
Luxury fashion house Balenciaga inaugurated its first standalone store in Chicago, Illinois.
May 21, 2024, France:
Some fashion brands are opting to hold their showroom presentations in Milan this season due to logistical challenges posed by the Olympics.
May 20, 2024:
The collection follows the recent launch of Zara's 'Timelesz' line and represents another step in enhancing its kids' division.
Friend
and Follow
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us